Income and Wealth Sample Estimates Consistent with Macro Aggregates: Some Experiments

36 Pages Posted: 23 Aug 2015

Date Written: June 25, 2015

Abstract

The Bank of Italy’s Survey of Household Income and Wealth (SHIW) is widely used to study the economic behavior of Italian households. Like most similar surveys, the SHIW is biased downward in its estimates by the lesser propensity of wealthy families to participate and by the tendency to underreport income and wealth. This work assesses the various techniques for correct the bias, applying them to the period 1995-2012. Calibration techniques, which produce estimates consistent with the macro-economic information available from other sources, are also employed.

Keywords: income, wealth, household, calibration

JEL Classification: D10, D31

Suggested Citation

D'Alessio, Giovanni and Neri, Andrea, Income and Wealth Sample Estimates Consistent with Macro Aggregates: Some Experiments (June 25, 2015). Bank of Italy Occasional Paper No. 272. Available at SSRN: https://ssrn.com/abstract=2648905 or http://dx.doi.org/10.2139/ssrn.2648905

Giovanni D'Alessio (Contact Author)

Bank of Italy ( email )

Via Nazionale 91
00184 Roma
Italy

Andrea Neri

Bank of Italy ( email )

Via Nazionale 91
00184 Roma
Italy

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